10x Research draws an analogy with the 2017 bull rally, believing that it is premature to purchase bitcoins now. The reduction in trading activity in the market was taken as a key factor. 10x Research experts have also noticed an outflow of funds from spot Bitcoin ETFs, which has been going on for the past few days.
At the same time, 10x Research analysts indicate that after the price of Bitcoin falls to $52,000, the price will increase to at least $106,000. Reason: the upcoming halving in April.
Earlier, the head of the digital assets department at Goldman Sachs, Matthew McDermott, stated the need to change the approach to assessing the impact of price drivers of growth and decline in the value of the first cryptocurrency.
Source: Bits
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